Is 55369, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 55369 is a neutral's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 55369 was a Seller's Market.

Key Takeaway

55369 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in 55369, MN

How much do homes in 55369, MN cost?

Median Sold Price

$385,913

$195/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$12,009(+3.2%)

Key Takeaway

Homes in 55369 have sold for 3.2% more than they did a year ago.

Summary: The median home sold price in 55369 was $385,913 in October 2024, up 3.2% from last year, and the median price per square foot was $195.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $234K$359.9K
+53.8%
2 $272.5K$275K
+0.9%
3 $360K$360K
0.0%
4 $449.7K$449.9K
0.1%
5+ $590K$557.4K
-5.5%

Summary: 55369 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 53.8%, 2 bedroom homes increased by 0.9%, 3 bedroom homes did not change, 4 bedroom homes increased by 0.1%, and 5+ bedroom homes decreased by 5.5%.

Median Sold Price Compared To Nearby Zip Codes

55327
+6.5%
55369
+3.2%
55445
+2.9%
55316
0%
55311
-0.9%

Housing Supply in 55369, MN

How many homes are available in 55369, MN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
264306+15.9%

Summary: The 55369 real estate market had 306 homes for sale in October 2024, a 15.9% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 3648
+33.3%
3 91108
+18.7%
4 103114
+10.7%
5+ 3436
+5.9%

Summary: The 55369 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 18.7%, 4 bedroom homes increased by 10.7%, and 5+ bedroom homes increased by 5.9%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
6050-16.7%

Asking Price vs. Sold Price

19 Homes Were Sold
Under Asking

10 Homes Were Sold
At Asking

21 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 55369, you could pay more than the asking price. 42% of homes here sold above asking price last month.

Summary: A total of 50 homes were sold or pending in 55369 in October 2024, down by 16.7% month-over-month. Of the 50 sold homes, 38% were sold under asking, 20% were sold at asking, and 42% were sold over asking.

Days on Market for 55369, MN

How long does it take to sell a home in 55369, MN?

Average Sale Time

Oct 2023Oct 2024CHANGE
28 Days18 Days-33.8%

Summary: Homes in 55369 had an average of 18 days on market in Oct 2024, down by 33.8% compared to last year.

Breakdown of Home Sale Times

36 Homes Were Sold
Under 30 Days

14 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 55369 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 50 homes were sold in 55369; 72% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 4 Days Ago

Newest Listings in 55369, MN

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